Lenders welcome the decision to introduce an interim regime
Firms offering sale-and-leaseback have only until the end of July to submit applications for interim authorisation from the FSA. If they fail to do so, they will be unable to offer sale-and-leaseback during the period of interim regulation of the market, lasting until the end of June next year. Firms that want to offer sale-and-leaseback and are already authorised by the FSA for other activities still have to apply for an interim variation of permission.